Electrical Steel Price Trend and Forecast

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electrical steel Price Trends by Country

cnChina
inIndia
euEurope
usUnited States
thThailand
krSouth Korea

Global electrical steel Spot Market Prices, Trend Analysis and Forecast

Electrical Steel Price Trend Q3 2025

In Q3 2025, the global Electrical Steel market displayed a mixed trend, though the overall prices declined by around 1.07% during the quarter. While a few regions experienced brief periods of stability driven by industrial restocking, most major producers including China, India, the USA, and the United Kingdom reported a downward trajectory. The market softness was primarily linked to muted demand from transformer and motor manufacturing sectors, along with reduced activity in construction-related electrical equipment.

In contrast, Thailand and South Korea showed relatively stable price movements supported by domestic consumption. However, subdued export orders and high inventory levels in key markets kept overall sentiment weak, resulting in a marginal global price decline through the quarter.

USA

Electrical Steel Domestically traded prices Del Alabama, USA, Grade- Non-grain (M15-C5) 0.5mm.

According to PriceWatch, in Q3 2025, the electrical steel price trend in the USA inclined by 0.87% compared to the previous quarter, supported by steady demand from the electrical equipment, transformer, and EV motor manufacturing sectors. Increased investments in grid modernization and renewable energy projects contributed to a mild uptick in consumption.

Additionally, stable raw material costs and limited domestic supply provided moderate upward support to prices. Producers operated at balanced capacity utilization levels, maintaining a cautiously optimistic market sentiment throughout the quarter. Electrical steel prices in the USA declined by 0.96% in September 2025, mainly due to reduced demand from the transformer and motor manufacturing sectors amid slower industrial and construction activity.

Stable domestic production and comfortable inventory levels further contributed to the mild price correction. Overall, the electrical steel market in the USA during Q3 2025 reflected a softening trend, with expectations of modest recovery in Q4 supported by improving orders from the energy and automotive industries.

United Kingdom (UK)

Electrical Steel Domestically traded prices FD-Sheffield, UK, Grade- Non-grain (50WW800) 0.5mm.

According to PriceWatch, in Q3 2025, the electrical steel price trend in the United Kingdom declined as the prices dropped by 1.52% compared to the previous quarter, primarily due to subdued demand from the power infrastructure and industrial manufacturing sectors. Ongoing economic sluggishness and elevated energy costs dampened downstream consumption, while import competition from Asian and European suppliers added further pressure on domestic pricing.

Despite producers’ efforts to manage inventories and production levels, overall market sentiment remained weak, leading to a modest bearish trend across the quarter. Electrical steel prices in the United Kingdom declined by 0.68% in September 2025, primarily due to subdued demand from the power and electrical machinery sectors amid sluggish manufacturing activity.

Adequate domestic inventories and steady imports from European suppliers further limited price support, keeping the market sentiment weak. Overall, the electrical steel market in the UK during Q3 2025 showed a declining trend, with expectations of gradual stabilization in Q4 as industrial activity and energy sector investments begin to recover.

China

Electrical Steel Export prices FOB Shanghai, China, Grade Non-grain (50WW800) 0.5mm.

According to PriceWatch, in Q3 2025, the electrical steel price trend in China declined as the prices decreased by 1.36% compared to the previous quarter, mainly due to subdued demand from the transformer and motor manufacturing sectors. A slowdown in infrastructure and industrial equipment investments, coupled with stable raw material costs, contributed to weaker market sentiment.

Despite steady exports to Southeast Asia, domestic oversupply and cautious restocking activity among end-users exerted downward pressure on prices. Producers maintained moderate output levels to prevent further declines, keeping the market balanced but slightly bearish throughout the quarter. Electrical steel prices in China declined by 1.76% in September 2025, mainly due to weakened demand from the transformer and motor manufacturing sectors amid slower industrial output.

Adequate production levels and steady raw material availability further pressured domestic prices, while export orders remained limited due to global economic uncertainty. Overall, the electrical steel market in China during Q3 2025 reflected a downward trend, with expectations of mild recovery in Q4 supported by anticipated improvements in power equipment and infrastructure demand.

India

Electrical Steel Domestically traded prices Ex-Mumbai, India, Grade- Non-grain (50WW800) 0.5mm.

Accrding to PriceWatch, the electrical steel price trend in India has a decline of 2.32% in Q3 2025 compared to prior quarter due to slowing demand in the power equipment, transformer and motor manufacturing sectors. Weak demand from infrastructure investment and slow project execution have adversely affected domestic consumption.

Price competition from East Asia and steady pricing for inputs exerted additional pressure on Indian producers. While producers attempted to balance inventories and decrease output, the overall sentiment in the electrical steel market have been bearish throughout the quarter. Electrical steel prices in India fell by 0.45% in September 2025 primarily because of steady production activity amid moderate demand for electrical and power equipment.

Ample domestic supply and lower offers from regional suppliers have also contributed to weak price growth, which contributed to a slight downward change in prices. Overall, the electrical steel market in India has been in a slightly bearish market position in Q3 2025, but with a slight expectation for recovery in Q4 as infrastructure and power distribution projects improved in execution.

Thailand

Electrical Steel Import prices CIF Laem Chabang, Thailand, Grade- Non-grain (50WW800) 0.5mm.

During Q3 2025, the Electrical Steel price trend in Thailand showed a slight decrease of 1.14% from Q2 2025 while weak demand from the electrical equipment, appliance, and industrial machinery manufacturing sector became evident. The price declines have primarily been due to subdued infrastructure investments and hesitancy from manufacturers to increase inventory levels, limiting activity.

In addition, stable input costs and the pending import availability from China and Japan continued to contribute downward to prices, making market conditions slightly bearish, while producers cautiously consider production levels as they seek to align supply and demand levels. As a result, electrical steel prices in Thailand fell by 0.95% in September 2025, with the softer trends being attributed to weak demand from the transformer and electrical equipment manufacturing firms amid slower industrial activity.

The price declines have also been attributable to stable supply levels domestically and announced imports from various regional markets exerting a small downward price pressure. Overall, electrical steel in Thailand showed evidence of a softer trend during Q3 and showed signs of stability upon a gradual return of downstream industrial activity from infrastructure projects in Q4.

South Korea

Electrical Steel Domestically traded prices EX-Busan, South Korea, Grade- Non-grain (50WW800) 0.5mm.

In the third quarter of 2025, the Electrical Steel price trend in South Korea declined as the prices decreased by 0.92% from the previous quarter due to decreased demand from the automotive, transformer, and industrial machinery sectors. Weaker downstream demand and relatively stable raw material prices, combined with competitive prices due to imports from China and Japan, contributed to the slight price decline, and producers have maintained controlled production and inventory management in order to minimize the risk of oversupply, which resulted in a slightly bearish sentiment for the market for the duration of the quarter.

Electrical Steel prices in South Korea also dropped in September 2025 by 0.66%, as weaker demand from the automotive and electrical equipment sectors was seen alongside weakening industrial production. Domestic availability has been sufficient while imports have remained stable thus further contributing downward pressure to pricing. Overall, the electrical steel market in South Korea showed signs of weakening in Q3 of 2025 while a moderate stabilization is expected in Q4 as downstream demand improvement is anticipated.

Electrical Steel Price Trend Analysis: Q2 2025

According to the PriceWatch, In Q2 2025, the electrical steel market experienced a notable price decline, with prices falling by $779.78 per metric ton, FOB Shanghai a 1.25% decrease. This drop suggests a modest market correction likely driven by a combination of softened global demand, improved supply chain stability, or easing input costs such as energy or raw materials. While the percentage change appears relatively small, the absolute value drops signals that electrical steel prices were previously at a high level, and the recent shift may indicate market normalization.

Key influencing factors could include reduced procurement from major industrial sectors like automotive and power infrastructure or increased production capacity from key manufacturers, especially in Asia. This trend might prompt buyers to cautiously re enter the market, anticipating potential further reductions or stabilization in the near term.

According to the PriceWatch, In Q2 2025, the price of electrical steel in India increased by $1,098.13 per metric ton, Ex Mumbai reflecting a 1.98% rise compared to the previous quarter. This growth is driven by robust demand from key sectors such as electric vehicles, power infrastructure, and transformer manufacturing, alongside limited supply due to raw material constraints and elevated energy costs.

The price hike also reflects global trends, where tight inventories and supply chain disruptions have pushed input costs higher. With continued industrial expansion and infrastructure investments, the upward pricing momentum signals a firm market outlook, potentially sustaining higher prices in the near term.

In the first quarter of 2025, the electrical steel market experienced a price increase of $789 per metric ton, FOB Shanghai representing a 2.08% rise from the previous quarter. This uptick reflects a combination of strong demand from the energy and automotive sectors particularly due to growth in electric vehicle production and grid infrastructure upgrades and constrained supply conditions influenced by raw material cost inflation and logistical challenges.

The modest percentage gain, despite the significant absolute price increase, suggests a high baseline price level entering the year, pointing to sustained market pressure and limited flexibility in sourcing alternatives. As demand for energy efficient technologies continues to grow, the pricing trend may persist into the next quarters unless there is a significant shift in production capacity or input costs.

​In Q1 2025, India’s electrical steel market experienced a notable price increase of $1,087 per metric ton, Ex Mumbai reflecting a 2.12% rise. Factors contributing to this price adjustment include a projected 8-9% growth in steel demand for 2025, driven by increased construction activities and stronger demand from engineering, packaging, and other industries. Additionally, the Indian electrical steel sector is undergoing significant developments.

In October 2024, JFE Steel Corporation and JSW Steel announced the acquisition of ThyssenKrupp Electrical Steel India, aiming to enhance domestic production capabilities of grain oriented electrical steel sheets. This move is expected to bolster India’s capacity to meet the growing demand for electrical steel, particularly in power generation and transmission sectors.

Electrical Steel Price Trend Analysis: Q4 2024

In Q4 2024, the electrical steel showcase experienced an eminent upward move, with costs expanding by $773 per metric ton, FOB Shanghai checking a 2.37% rise. This development reflects fixing supply elements and rising requests, especially from the vitality and car segments, where electrical steel is fundamental for transformers, engines, and EV components.

The cost uptick proposes expanded crude fabric costs, progressing worldwide foundation speculations, and maintained energy in the green vitality move. Showcase members may too be figuring in potential supply chain disturbances and geopolitical pressures, which contribute to estimating weight and vital stockpiling.

In Q4 2024, the electrical sword assiduity in India has endured a notable price increase of $1,065 per metric ton, Ex Mumbai reflecting a rise of 1.57%. This price hike could be driven by several factors, including advanced raw material costs, inflationary pressures, and implicit shifts in demand due to the adding relinquishment of electric vehicles and renewable energy systems, which bear electrical sword for manufacturing motors, mills, and other crucial factors.

As a critical material in the electrical sector, this price adaptation could also be told by global force chain dislocations or increased product costs in domestic manufacturing. The price increase may help sword manufacturers neutralize these pressures while potentially impacting downstream diligence reliant on electrical sword for their product processes.

In Q3 2024, the electrical sword request endured a notable price decline of $755 per metric ton, FOB Shanghai representing a 3.07% drop. This downturn reflects a combination of factors, including softened global demand particularly from the automotive and appliance sectors as well as easing raw material costs similar to iron ore and energy.

Also, bettered force chain effectiveness and increased product capacity in crucial regions like China and India contributed to surfeit pressures. This price adaptation signals a temporary cooling in the request after former diggings of elevated prices, and stakeholders are now covering whether this trend will stabilize or continue into Q4 amid shifting macroeconomic conditions.

In Q3 2024, India’s electrical steel market experienced a notable downturn, with prices declining by $1,048 per metric ton, Ex Mumbai reflecting a 2.12% decrease. This drop was part of a broader trend in the steel industry, where domestic prices for hot rolled coils (HRC) and cold rolled coils (CRC) fell to three-year lows, primarily due to a 68% surge in imports during the April–June quarter, reaching 1.93 million tonnes.

The influx of imported steel, especially from countries like China, Japan, and Vietnam, intensified price pressures on domestic producers. Additionally, weak demand from sectors such as automotive and renewable energy projects further exacerbated the situation. Despite these challenges, the government is considering implementing safeguard duties to protect the domestic industry from unfair trade practices and to stabilize the market.

In Q2 2024, the electrical sword request endured a notable downturn, with prices declining by roughly $779 per metric ton, FOB Shangai representing a 4.36% drop. This price reduction was primarily driven by a combination of factors, including dropped demand from crucial downstream diligence, surfeit in the request, and aggressive pricing strategies by major exporters. In the Asia Pacific region, particularly in Japan, the request faced significant challenges due to reduced conditions from the construction and automotive sectors, leading to sharp price cuts.

Also, geopolitical pressures and nonsupervisory pressures contributed to a conservative approach by buyers, performing in restrained request sentiment and a disinclination to make up supplies. These dynamics crowned in a persistently negative pricing terrain throughout the quarter, pressing the complications and challenges faced by the electrical sword assiduity during this period.

​In the second quarter of 2024, India’s electrical steel market has witnessed a notable price reduction of $1,071 per metric ton, Ex Mumbai translating to a 2.34% decrease. This decline could be attributed to several factors, including fluctuating demand, changes in raw material costs, and global market dynamics. A reduction in prices may reflect a correction in supply demand imbalances or a response to softer demand from key industries such as automotive and power generation.

The decrease in electrical steel prices may also be influenced by global trends or inventory adjustments, which could have resulted in some excess stock in the market. The shift in prices, while moderate, suggests a more cautious outlook, possibly impacting the profitability of domestic steel manufacturers in the short term, while providing some relief to downstream industries reliant on electrical steel inputs.

In Q1 2024, the electrical steel market experienced a notable price surge, with prices increasing by $815 per metric ton, FOB Shangai a rise of approximately 4.69%. This uptick was driven by several converging factors, including strong demand from the renewable energy and electric vehicle (EV) sectors, both of which rely heavily on grain oriented and non-grain oriented electrical steels for efficient energy conversion and motor function.

Additionally, supply side constraints due to limited production capacity, elevated input costs (such as energy and raw materials), and tightening environmental regulations in key producing countries further exacerbated the upward pressure on prices. The combination of robust end use demand and constrained supply indicates a market under strain, signaling continued volatility and potential for further price adjustments throughout 2024.

In the first quarter of 2024, the electrical steel market in India saw a price increase of $1,096 per metric ton, Ex Mumbai or 2.71%. This rise was driven by several factors, including higher raw material costs, particularly coking coal, which saw a price spike due to disruptions in supply. Additionally, strong domestic demand fueled by infrastructure projects and growth in urban consumption contributed to the price hike.

The steel export sector also saw growth, with India’s steel exports reaching an 18 month high, further impacting domestic pricing dynamics. These combined factors led to the observed price increase in the electrical steel sector.

Technical Specifications of Electrical Steel Price Trends

Product Description

Electrical steel is a specialized steel alloy designed to efficiently conduct magnetic flux, making it essential for use in transformers, electric motors, and generators. It is available in grain-oriented and non-grain-oriented types, each optimized for specific applications requiring high magnetic permeability and low energy loss. Alloyed with silicon, electrical steel minimizes core losses, enhances efficiency, and supports quiet, reliable operation in electrical and electronic devices.

Identifiers and Classification:

  • HS Code – 722519


Electrical Steel Synonyms:

  • Silicon Steel
  • Electrical steel
  • E-steel
  • Lamination steel
  • Silicon electrical steel
  • Silicon steel
  • Relay steel
  • Transformer steel
  • Magnetic steel


Electrical Steel Grades Specific Price Assessment:

  • Electrical Steel Non-grain (M15-C5) 0.5mm Price Trend
  • Electrical Steel Non-grain (50WW800) 0.5mm Price Trend
  • Electrical Steel Non-grain (50PN800) 0.5mm Price Trend


Electrical Steel Global Trade and Shipment Terms

  • Quotation Terms (Product & Country Specific): 50-60 MT
  • Packaging Type (Product & Country Specific): Container

 

Incoterms Referenced in Electrical Steel Price Reporting

Shipping Term  Location  Definition 
FOB Shanghai  Shanghai, China  Electrical Steel Export price from China 
Del Alabama  Alabama, USA  Domestically Traded Electrical Steel price in USA 
FD Sheffield  Sheffield, UK  Domestically Traded Electrical Steel price in UK 
CIF Laem Chabang  Laem Chabang, Thailand  Domestically Traded Electrical Steel price in Thailand 
EX-Mumbai, CIF Nhava Sheva  Mumbai, Nhava Sheva, India  Domestically Traded Electrical Steel price in India 
EX-Busan  Busan, South Korea  Domestically Traded Electrical Steel price in South Korea 

*Quotation Terms refers to the quantity range specified for the Electrical Steel being quoted or offered in a commercial transaction.

**Packaging Type refers to standard packaging size commonly used for Electrical Steel packing, ease of handling, transportation, and storage in industrial and commercial applications.


Key Electrical Steel Manufacturers

Manufacturer 
Tata Steel Group 
JSW Steel 
SAIL 
POSCO 
Nucor Corporation 
United States Steel Corporation 
China Baowu Steel Group 
British Steel 

Electrical Steel Industrial Applications

electrical steel market share end use

Historically, several events have caused significant fluctuations in Electrical Steel prices

  • Global Supply Chain Disruption (2022): The war in Ukraine and other geopolitical tensions disrupted supply chains, leading to price volatility in various commodities, including Electrical Steel.
  • Global Economic Downturn (2019-2020): The global economic slowdown, particularly in sectors like steel and automotive, led to reduced demand for Electrical Steel, resulting in lower prices.
  • COVID-19 Pandemic (2019-2020): The global pandemic led to a significant decline in demand for Electrical Steel-intensive industries, such as steelmaking and automotive manufacturing, causing prices to plummet.

These events underscore the Electrical Steel market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.

Why PriceWatch?

PriceWatch is your trusted resource for tracking global electrical steel price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the electrical steel market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.

In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence electrical steel prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely electrical steel market data.

Track PriceWatch's electrical steel price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Data Collection and Sources​

  • Real-Time Market Data: PriceWatch aggregates real-time pricing data from a diverse range of sources, including global commodity exchanges, industry reports, and proprietary databases. This ensures that our assessments reflect the most current market conditions.
  • On-the-Ground Intelligence: Our team gathers insights directly from key market participants, including producers, suppliers, traders, and end-users, across major Electrical Steel production hubs. This ground-level intelligence is crucial for understanding localized market dynamics.
  • Supply Chain Monitoring: We track the entire Electrical Steel supply chain, from raw material availability to production and distribution channels. This includes monitoring feedstock prices, production capacities, and transportation logistics.

Event Tracking and Impact Analysis​

  • Geopolitical Tensions: PriceWatch continuously monitors global geopolitical developments, such as conflicts or trade disputes, which can significantly impact Electrical Steel prices. Our analysis includes potential disruptions to supply chains and their immediate and long-term effects on pricing.
  • Natural Disasters and Climate Events: We assess the impact of natural disasters, such as hurricanes or winter storms, on Electrical Steel production facilities, particularly in vulnerable regions like the APAC coasts. These events are factored into our price forecasts and supply outlooks.
  • Economic Shifts: PriceWatch evaluates macroeconomic trends, including global economic growth, inflation rates, and sector-specific demand (e.g., automotive, packaging, to predict shifts in Electrical Steel demand and corresponding price movements.

Production Capacity and Supply Analysis

  • Current Production Monitoring: We maintain a comprehensive database of global Electrical Steel production facilities, tracking their operational status, maintenance schedules, and output levels. This allows us to assess current supply availability accurately.
  • Future Capacity Projections: Our research includes detailed forecasts of upcoming Electrical Steel production capacities, factoring in new plant constructions, expansions, and technological advancements. This helps in predicting future supply trends and potential price stabilization.

Demand Forecasting

  • Sectoral Demand Analysis: PriceWatch provides an in-depth analysis of demand trends across key sectors, including packaging, automotive, and construction. We track year-on-year demand growth and project future consumption patterns based on economic indicators and industry developments.
  • Global Demand Dynamics: Our methodology considers regional demand variations and how they influence global Electrical Steel pricing. This includes understanding the impact of shifts in manufacturing bases, trade policies, and environmental regulations.

Pricing Model Development

  • Dynamic Pricing Models: PriceWatch utilizes advanced econometric models to forecast Electrical Steel prices, incorporating real-time data, historical trends, and projected market conditions. Our models are continuously refined to enhance accuracy and predictive power.
  • Scenario Analysis: We conduct scenario-based assessments to evaluate potential future market conditions. This includes best-case, worst-case, and most-likely scenarios, helping our clients prepare for a range of market outcomes.

Reporting and Client Support

  • Comprehensive Reports: Our clients receive detailed reports that include current price assessments, future price forecasts, and in-depth analysis of market drivers. These reports are designed to be actionable, providing clear insights and recommendations.
  • Ongoing Support: PriceWatch offers continuous updates and personalized support to our clients, ensuring they have the most up-to-date information to make informed decisions. Our experts are available to discuss specific market developments and provide tailored advice.

 

This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable Electrical Steel pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.

Electrical Steel Market Price Trend provided by PriceWatch is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for electrical steel. PriceWatch disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.

Electrical steel, also known as silicon steel or lamination steel, is engineered to have specific magnetic properties for use in electrical applications like transformers, motors, and generators. Its performance is influenced by a variety of factors, including:

Chemical Composition

Silicon content (Si): Typically 1–6.5%. Increases electrical resistivity and reduces core losses but decreases ductility.

Carbon content: Very low (<0.005%) to prevent aging and maintain magnetic properties. Other elements (e.g., aluminum, manganese): Can fine-tune grain growth and magnetic characteristics. Grain Structure Grain size: Larger grains reduce hysteresis loss but may affect mechanical properties. Grain orientation: Non-oriented (NO): Random grain directions; used in rotating machines. Grain-oriented (GO): Optimized for magnetization in one direction; used in transformers. Manufacturing Process Cold rolling: Improves surface finish and grain structure but requires annealing. Annealing (primary and secondary recrystallization): Refines grain structure and develops desired orientation. Decarburization: Removes carbon to reduce aging and maintain magnetic quality. Coating Applied to reduce eddy currents, prevent oxidation, and improve punchability. Types include: Insulating coatings: Improve interlaminar resistance. Mechanical coatings: Enhance formability and protect during punching. Thickness of Lamination Thinner sheets reduce eddy current losses, improving efficiency, but increase cost and complexity. Magnetic Properties Permeability: Determines how easily the steel can be magnetized. Core loss: A measure of energy lost during magnetization cycles, including hysteresis and eddy current losses. Coercivity: Low coercivity is preferred for less energy loss. Mechanical Properties Impact forming, punching, and stacking during machine assembly. Must balance strength and magnetic performance. Operating Conditions Frequency of operation: Higher frequencies demand thinner laminations and higher resistivity. Temperature: Magnetic properties degrade at high temperatures; alloy and coatings must handle expected conditions.

Feedstock prices have a significant impact on the cost and availability of electrical steel, a specialized material used primarily in the cores of transformers, motors, and generators. Electrical steel is produced using raw materials such as iron ore, coal (for steelmaking), and alloying elements like silicon. When the prices of these feedstocks rise, production costs for electrical steel also increase, leading to higher market prices.

The price of electrical steel is closely linked to inflation through both direct and indirect economic mechanisms. As inflation rises, the cost of raw materials, energy, labor, and transportation also tends to increase, all of which contribute to higher production costs for electrical steel. Additionally, inflation often leads to higher interest rates as central banks try to control rising prices, which can reduce investment in infrastructure and manufacturing—key sectors that consume electrical steel—potentially impacting demand.